The Securities and Exchange Board of India (SEBI) has released the detailed code of conduct for its members, laying down the operational framework for the conflict-of-interest norms approved by its Board last month.The Code, voluntarily adopted by SEBI's Board in June 2026, prescribes standard disclosure formats for Whole-Time Members (WTMs) and Part-Time Members (PTMs), detailing the information they must periodically furnish on their financial interests, immovable properties, liabilities, professional engagements and family relationships. It also sets out the formats for public disclosures and annual reporting of recusals.Under the code, WTMs will have to disclose details of their family members and relatives, professional interests over the previous three years, immovable properties, financial investments, liabilities and non-permitted investments held by family members. The disclosure requirements also extend to rental agreements involving immovable property and transactions in financial assets and real estate during their tenure.The framework specifies that liabilities above ₹2 lakh must be disclosed, while transactions in financial assets by WTMs or their family members are reportable if the value exceeds two times the official's monthly basic pay.The code also prescribes a format for disclosure of non-permitted investments held by family members, including investments acquired through relaxations such as discretionary portfolio management services, unlisted companies and employee stock option plans.For immovable property disclosures that are made public, the code said that full addresses need not be disclosed to address privacy concerns.For Part-Time Members, the code requires disclosures relating to family members, investments in equity and equity-linked instruments, annual transactions in such investments, and professional interests during the previous three years as well as those acquired during their tenure.The code introduces a standard format for reporting recusals in SEBI's Annual Report. The disclosure will capture the number of recusals by the Chairperson, Whole-Time Members, Part-Time Members, Executive Directors and Chief General Managers during the year.The detailed code follows the Board's approval of a revamped conflict-of-interest framework last month, which introduced mandatory recusal norms, expanded disclosure requirements, restrictions on investments by officials and their immediate family members, and the creation of an Office of Ethics and Compliance to oversee implementation of the frameworkPublished on July 16, 2026